Ghost Month & Property: should you be worried?

Photo/Shizhao - Ghost Month sees property markets across Asia slowdown

Ghost Month is nearly upon us, or it’s already here depending on when you’re reading this. This year it runs from August 1 to August 29 with Ghost Day falling on August 15. During this time, real estate markets across Southeast Asia grind to a screeching halt.

It is believed that bad luck casts a shadow over daily life events during this time. Everyone is advised to exercise precaution in order to avoid unwanted attention from roaming spirits with major decisions, like buying a property or moving, best left for another day.

Should you be worried about Ghost Month? Let’s take a look at this from the perspective of both buyers and those selling real estate.

Ghost Month from a buyer’s perspective

There really is no need to buy a property if you don’t feel comfortable doing so during Ghost Month. There is a reason property market activity throughout Southeast Asia falls during this time. The risk, or even thought, of bad luck hanging over your head is unpalatable.

But this doesn’t mean you can’t do research, checkout properties and talk to agents/developers about upcoming deals. This time can be used to help you do an extra bit of research that ensures you feel confident in your home buying decision. Once Ghost Month has come to pass, you can act quickly and scoop up the property you want before others have the chance to.

Ghost Month from an agent or developer’s perspective

If you’re a real estate agent or property developer, Ghost Month is likely to be your least favourite time of year. We get it. But there are still opportunities out there if you look for them. After all, the world is a big place and not everyone believes in Ghost Month.

Now is the ideal time to target overseas property buyers from Europe, the USA, Australia and other regions where Ghost Month is not a tradition. With more international real estate investors and retirees considering Southeast Asia, this could be the perfect time to reach out to a growing market.

If you’re an agent or property developer looking to connect with more overseas property buyers, get in touch with Dot Property. We’re international property marketing specialists and can help increase your business during Ghost Month. Don’t wait, click here to get in touch with us today!